NEW DELHI: Delhi Metro has earned over Rs 2 crore from the sale of 82,000 Certified Emission Reductions (CERs) under the carbon credits scheme by the Japan Finance Carbon Ltd in 2008 and 2009. While the DMRC earned Rs 1.07 crore on the sale of 39,000 CERs for the year 2008, it earned Rs 1.33 crore on the sale of 43, 000 CERs for the year 2009. These payments were received recently. The DMRC was the first railway project in the world to be registered by the United Nations under the Clean Development Mechanism (CDM)

MUMBAI: Electrosteel Castings has entered into a joint venture agreement with Dart Energy for the purpose of its captive Parbatpur coal mine degassing project. The company intends to make this JV self sustainable by realising the economic benefits of clean development mechanism (carbon credits) benefits. The company will own a 70 per cent stake and Dart will hold the remaining 30 per cent stake. The stock was at Rs 32.80, up 3.96 per cent on the NSE. It touched a high of Rs 33.75 and low of Rs 32 in trade so far.

BHUBANESWAR: National Aluminium Company Limited (NALCO), the Navratna PSU , under the union ministry of mines, Govt. of India, has become the first PSU in the country by implementing a pilot-cum-demonstration project on Carbon Sequestration in its Captive Power Plant at Angul. The project is expected to go a long way to address the issue of bringing down Green House Gases (GHG), a Nalco spokesperson pointed out. Only recently, at Copenhagen summit India had volunteered to cut down the rate of emission of Green House Gases (GHG)

NEW DELHI: Reliance Power's Rs 16,000-crore ultra mega power project at Sasan has qualified for carbon credits , which will help it earn over Rs 2,000 crore, or 40% of its equity in the next decade. The 4,000-MW coalfired Sasan power project using supercritical technology has been registered with clean development mechanism executive board of United Nations Framework Convention on Climate Change, the company said in a statement on Thursday. This allows the project to earn certified emission reduction credits, each equivalent to one tonne of carbon dioxide, it said.

Shares of Reliance Power rose nearly 4 percent after the company said late on Thursday one of its ultra mega Power projects won approval for carbon credits estimated at more than 20 billion rupees over 10-year period, two dealers said. At 10.49 a.m., shares of the company were up 3.61 percent at 135.05 rupees.

Cummins India down as Q3 net disappoints Shares of Cummins India fell as much as 6.5 percent as weak Oct-Dec earnings disappointed investors, two dealers said. The company's third quarter net profit fell 6 percent to 1.39 billion rupees, from 1.48 billion rupees a year ago. At 12:09 p.m., the stock was down 4.41 percent at 655 rupees. Reliance Power shares up on carbon credits win Shares of Reliance Power rose nearly 4 percent after the company said late on Thursday one of its ultra mega power projects won approval for carbon credits estimated at more than 20 billion rupees over 10-year period, two dealers said.

MUMBAI: Shares of Anil Ambani Group company Reliance Power surged by over 3 per cent in early trade on the Bombay Stock Exchange today on the back of aggressive buying by retail investors. The stock jumped by 3.41 per cent to an early peak of Rs 134.80 on the BSE. In a similar fashion, Reliance Power's shares spurted by 3.98 per cent to a high of Rs 135.80 on the National Stock Exchange . In terms of volumes, over 16 lakh shares of the company were traded on the two bourses within the first hour of trade.

MUMBAI: The country's largest wind turbine maker Suzlon today won a Rs 865-crore order from the Vedanta Group firm Hindustan Zinc to set up wind farms in four states which will together generate 150 megawatt (MW). The project entails setting up 150 mw capacity in Karnataka, Maharashtra, Rajasthan and Tamil Nadu by September, besides operating and maintaining the mills, a release issued by Suzlon from Pune said today. First 50 MW will be completed by March and the remaining by September, the release said, adding the output will be purchased by discoms of the respective states under a long-term PPA (power purchase agreement)

DELHI/KOLKATA: Several companies that secured solar power projects from the government are selling their licenses at a premium to bigger firms, a senior government official said. "We have come across innumerable instances where companies that have been allotted solar power projects by the Centre now want to sell them off to other established players ," said S P Gon Choudhury, special secretary (power), West Bengal. The government had allotted 80 projects, ranging from 100 kilowatts to 2 MW, in 2010 under the Jawaharlal Nehru Solar Mission.